UniSuper Management Pty Ltd Raises Stake in Prologis, Inc. (NYSE:PLD)

UniSuper Management Pty Ltd lifted its stake in Prologis, Inc. (NYSE:PLD) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,821 shares of the real estate investment trust’s stock after purchasing an additional 14,159 shares during the period. UniSuper Management Pty Ltd’s holdings in Prologis were worth $33,805,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Empirical Asset Management LLC grew its stake in Prologis by 339.0% in the 4th quarter. Empirical Asset Management LLC now owns 68,584 shares of the real estate investment trust’s stock worth $7,249,000 after acquiring an additional 52,963 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Prologis by 2.9% in the fourth quarter. Cardano Risk Management B.V. now owns 893,009 shares of the real estate investment trust’s stock worth $94,391,000 after purchasing an additional 25,266 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Prologis by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 784,360 shares of the real estate investment trust’s stock worth $82,907,000 after purchasing an additional 179,880 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Prologis during the 3rd quarter valued at $1,051,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Prologis by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 728,921 shares of the real estate investment trust’s stock worth $92,048,000 after buying an additional 9,147 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Prologis Stock Up 1.7 %

PLD stock opened at $111.07 on Thursday. The stock has a market capitalization of $102.94 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. Prologis, Inc. has a 52 week low of $100.82 and a 52 week high of $132.57. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $117.72 and a 200 day moving average of $116.63.

Prologis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 18th will be paid a dividend of $1.01 per share. This is an increase from Prologis’s previous quarterly dividend of $0.96. This represents a $4.04 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Tuesday, March 18th. Prologis’s payout ratio is presently 101.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of Prologis stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the sale, the executive now owns 7,977 shares of the company’s stock, valued at approximately $947,188.98. The trade was a 57.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Mizuho reduced their price target on shares of Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Robert W. Baird increased their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Scotiabank cut their price objective on shares of Prologis from $134.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Monday, January 27th. Finally, BNP Paribas raised Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.78.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.